There have been a number of campaigns of late to persuade investment funds to disinvest from oil, gas and coal industries. \u00a0The motivation, as I understand it, was to reduce the flow capital to these industries and hence to speed their demise. \u00a0There was an educational component to this as disinvestment as an idea and a strategy was promoted as a good awareness- and consciousness-raising exercise. \u00a0Additionally, having your money in a green\/lean outfit which is environmentally and socially ethical can make you feel better about yourself. \u00a0The results have been mixed.<\/p>\n
It's certainly the case that a number of high-profile organisations have been selling their most polluting assets in order to please clean\/green investors. \u00a0Shell is a case in point. \u00a0But these assets are merely being sold not shut down. \u00a0And in being sold to private equity firms (as many are \u2013 according to the Economist such outfits have acquired $60bn of coal\/oil assets since 2020) they have simply disappeared from public view. \u00a0The more private you are, the less accountable you become, and you make your money and pollution out of the public gaze.<\/p>\n
I cannot recall anyone who was keen on such divestment ever anticipating that this was a possibility. \u00a0It is surely an outcome that no-one welcomes (unless you're private equity). \u00a0This is the sort of case study which ought to be a feature of any good sixth-form general studies programme that focuses on net zero issues \u2013 as all good general studies programmes surely already do.<\/p>\n